Common use of Reservations of Authority Clause in Contracts

Reservations of Authority. Since acceptance by an employee of a position as an officer or director of an outside business concern may entail important legal and business risks to the Company and the individual involved, it is desirable that employees refrain from accepting such positions except where the propriety of their participation has been clearly established. OUTSIDE BUSINESS IN WHICH POSITION AS OFFICER OR DIRECTOR WILL BE HELD o Corporations or other business organizations in which service of a Company employee as an officer or director could reasonably be interpreted by others as representation of Trans-Century Resources, Inc. or could entail legal or other risks for the company: Requires approval by the Board of Directors. o Small local or family businesses in which service of a Company employee could not reasonably be interpreted by others as representation of Trans-Century Resources, Inc. or does not entail legal or other risks to the Company: Requires approval by cognizant company officer or manager reporting to an officer with the limitation that the approval authority must be one over one. The individual approving the acceptance of a position as an officer or director of an outside business concern should consider the desirability or necessity of periodic reviews to determine whether continuance of the approval is appropriate.

Reservations of Authority. Since acceptance by an employee of a position as an officer or director of an outside business concern may entail important legal and business risks to the Company and the individual involved, it is desirable that employees refrain from accepting such positions except where the propriety of their participation has been clearly established. OUTSIDE BUSINESS IN WHICH POSITION AS OFFICER OR DIRECTOR WILL BE HELD o Corporations or other business organizations in which service of a Company employee as an officer or director could reasonably be interpreted by others as representation of Trans-Century ResourcesStarMed Group, Inc. or could entail legal or other risks for the company: Requires approval by the Board of DirectorsPresident. o Small local or family businesses in which service of a Company employee could not reasonably be interpreted by others as representation of Trans-Century ResourcesStarMed Group, Inc. or does not entail legal or other risks to the Company: Requires approval by cognizant company officer Company Officer or manager reporting to an officer with the limitation that the approval authority must be one over one. The individual approving the acceptance of a position as an officer or director of an outside business concern should consider the desirability or necessity of periodic reviews to determine whether continuance of the approval is appropriate.